Risk Factors Update Summary
- Significant increase in the number of shares available for resale in the public market.
- Expected cash balance to fund operations extended from Q2 2023 to Q2 2024, a significant change.
- Increase in the weighted average exercise price of warrants from $33 to $83.
- Accumulated deficit increased from $127 million to $343 million, a substantial rise.
- Non-compliance with Nasdaq's minimum bid price requirement and subsequent reverse stock split.
- Net loss decreased from $112 million to $19 million, showing improved financial performance.
- Cash used in operating activities decreased from $585 million to $223 million, indicating better efficiency.
- Cash on hand decreased from $18 million to $8 million, impacting liquidity.
- Gross proceeds from equity sales decreased from $6.5 million to $0.8 million, affecting funding.
- Outstanding stock options decreased from 17,956 to 788 shares, impacting potential dilution.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1690080&owner=exclude
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